§ 2A308. Special rights of creditors
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code
13 Pa.C.S.A. § 2A308
§ 2A308. Special rights of creditors
(a) Creditor of lessor.--A creditor of a lessor in possession of goods subject to a lease contract may treat the lease contract as void if as against the creditor retention of possession by the lessor is fraudulent under any statute or rule of law, but retention of possession in good faith and current course of trade by the lessor for a commercially reasonable time after the lease contract becomes enforceable is not fraudulent.
(c) Creditor of seller.--A creditor of a seller may treat a sale or an identification of goods to a contract for sale as void if as against the creditor retention of possession by the seller is fraudulent under any statute or rule of law, but retention of possession of the goods pursuant to a lease contract entered into by the seller as lessee and the buyer as lessor in connection with the sale or identification of the goods is not fraudulent if the buyer bought for value and in good faith.
Credits
1992, July 9, P.L. 507, No. 97, § 3, effective in one year.
13 Pa.C.S.A. § 2A308, PA ST 13 Pa.C.S.A. § 2A308
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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